|
Telekom Malaysia has said it intends to remain in Malawi until a suitable replacement as a “strategic operator” of Telekom Networks Malawi (TNM) has been found.
In a press statement issued last week, Telekom Malaysia, the majority shareholder in TNM with 60 percent shares, said it is presently consulting with its co-shareholder Malawi Telecommunications Limited (MTL) and government to “finalise a sale process to identify and select a preferred bidder to acquire its shares in TNM”.
“The objective is to divest its interest in TNM responsibly so that the people of Malawi continue to be provided with an excellent service and the staff of TNM to enjoy rewarding and fulfilling careers,” says the statement.
Explaining its withdrawal from TNM, the company says its board recently deciced to alter its international strategy to focus on geographical regions “closer to home”.
The first part of the strategy was the sale of our investment in Telkom SA in the second half of 2004.
“A subsequent decision was taken to divest all its interests in Africa, including Malawi. The decision is a strategic one and is in no way reflective of TNM’s performance,” says the statement.
Telekom Malaysia has been involved in the development of TNM’s cellular infrastructure for over ten years. Todate, TNM has over 85,000 subscribers and “continues to enjoy a robust growth”.
|
